LPO Financing - BB Bank

LPO Financing

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LPO Financing

The bank supports businesses with Local Purchase Order (LPO) financing to help fulfill contracts and maintain operational cash flow.

Call anytime

+(252) 611 38 5050

Key Benefits and Features

Tailored to contractors and vendors of reputable organizations

Maximum tenure is six months with the option of a 90-day renewal after the expiry of the facility

The Facility Amount does not exceed 60% of the supply order

Irrevocable agreement in respect of contract proceeds is executed by the Bank Customer, BB Bank and the organization issuing the LPO

The organization issuing the LPO must be reputable and financially sound e.g., the Federal Government, Regional Governments, International NGOs and key reputable companies

Sharia Contract: Diminishing Musharaka/Murabaha

Our Requirements

Filled Facility application form
Certificate of registration (CR)
3 years audited accounts
12 months bank statement
Copy of Lease/Proof of location of the business
Director's joint and several guarantees
Irrevocable assignment of payment
Copy of Performance / Bid Bond issued
Company profile (overview)

How to Apply

Other related Finances

Saturday - Thursday : 8:00 am - 5:00 pm

Call for an appointment

BB Bank is a commercial bank offering Islamic banking services in Somalia with Sharia guidelines and banking regulations.

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